USD/CHF gained strong follow-through positive traction...from Toolstrades

10 Aug 2021, 02:50 · Views 748

The USD/CHF pair maintained its bid tone through the early North American session and was last seen hovering near two-week tops, around the 0.9165-70 region. The pair added to its post-NFP strong positive move and gained some follow-through traction for the second consecutive session on Monday. The momentum allowed the USD/CHF pair to build on last week's goodish rebound from the vicinity of the key 0.9000 psychological mark, or the lowest level since June 16.

Bulls seemed unaffected by the risk-off impulse in the markets, which tends to benefit the safe-haven Swiss franc. Worries that the fast-spreading Delta variant of the coronavirus
could derail the global economic recovery weighed on investors' sentiment, which was evident from a softer tone around the equity markets.

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